by Helaine Olen
MSNBC
Though Wall Street indexes made something of a comeback Tuesday, recent days have been brutal for investors. The Dow fell more than 1,000 points Monday, following a smaller but still steep drop Friday. After hitting a record high on July 10, the tech-heavy Nasdaq has dropped 13% in less than a month.
This extended drop is prompting increasing calls for the Federal Reserve to cut interest rates. And its critics have a point. The United States economy, seemingly so robust, is increasingly acting as if it’s on the precipice of an economic downturn. But the Fed, still busy fighting a battle against inflation it won well over a year ago, appears to be the last to know.